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  • Deductions from trust income

    What deduction can I claim?

    Tax deductions for managed investment trusts can include management fees, specialist journals and interest on money you borrowed to invest.

    If you made a prepayment of $1,000 or more in relation to your managed investment, there are special rules which may affect the amount you can deduct.

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    What can't I claim?

    You can't claim a deduction for expenses incurred in deriving exempt income or non-assessable non-exempt income, such as expenses incurred in deriving distributions on which family trust distribution tax or trustee beneficiary non-disclosure tax has been paid.

    You also can't claim a deduction for amounts the trust has already claimed or that only the trust can claim, for example, expenditure on landcare operations or water facilities.

    See also:

    Last modified: 01 Jul 2020QC 22817